On Monday (today), Minister for Finance Clyde Caruana was reported saying that the budget for the coming year, to be revealed next week, will be “the envy of other countries.”

During a press conference, Minister Caruana said that when compared to other countries, Malta was, is and will continue to be economically strong. It is because of this, he states, that the 2024 budget won’t add any burdens on people.

Nonetheless he reiterated that since 2020 Malta faced a constant challenging hurdles; the pandemic, the war in Ukraine and now another war is looming in the Middle East.

He remarked that the Government, despite not being perfect, is “taking more steps” than other countries with lots of resources available, to safeguard the wellbeing of its citizens.

Minister Caruana reminded about the €350 million energy subsidies and how they shouldn’t be taken for granted. Previously, Minister Caruana stated that although the Government will still subsidise energy, it will not last forever.

He concluded that the Government, at the end of the day, is aiming at strengthening the Maltese economy for future generations.

On the other hand, also in attendance to the conference, Principal Permanent Secretary Tony Sultana reported that 81 per cent of 2023’s budgetary measures have been implemented.


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